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Lactic Acid Market Growth, Trends And Analysis 2023-2032
The Business Research Company's latest "Global Lactic Acid Opportunities And Strategies Market Report - Forecast To 2032" is the most comprehensive report available in market that will help gain a truly global perspective with data and statistics from over 60 geographies analyzed with more than 7500 market segments. The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by region and by country. It also compares the market's historic and forecast growth and highlights important trends and strategies that can be adopted to beat the competition in the industry
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The global lactic acid market reached a value of nearly $2.960 billion in 2022, having grown at a compound annual growth rate (CAGR) of 6.6% since 2017. The market is expected to grow from $2.960 billion in 2022 to $4.464 billion in 2027 at a rate of 8.6%. The market is then expected to grow at a CAGR of 8.4% from 2027 and reach $6.680 billion in 2032.
Lactic acid is an organic acid with the molecular formula CH3CH(OH)COOH. Lactic acid is produced naturally within the body during certain biochemical reactions. It is white when solid and colorless when dissolved.
Major companies in the lactic acid market are focusing on new plant expansions to strengthen their position and to increase their geographic presence. For example, in August 2022, Organicheskiye Kisloty, a Russia-based food company, launched Russia's first plant of organic acids, primarily, citric and lactic, in the Tula region, with a total annual capacity of 10,000 tons of lactic acid. Further, in March 2022, ABB, a Swiss automation company, was awarded a major contract by NatureWorks, the manufacturer of polylactic acid (PLA), a low-carbon bioplastic made from renewable agricultural resources, to automate their new, greenfield plant in Thailand, converting sugar cane to the polylactic acid (PLA) biopolymer, Ingeo. The new plant in Thailand, will ferment and distill plant-based sugars in a process similar to making beer or wine, converting the sugars first to lactic acid, then lactide and then polymerize them into Ingeo.
Lactic Acid Market Segmentation:
By Raw Material -
The lactic acid market is segmented by raw material into
a) Corn
b) Sugarcane
c) Other Raw Materials
By Source -
The lactic acid market is segmented by source into
a) Natural
b) Synthetic
By Application -
The lactic acid market is segmented by application into
a) Industrial
b) Food And Beverages
c) Pharmaceuticals
d) Personal Care
e) poly lactic acid (PLA)
f) Other Applications
Some of the key players involved in the Lactic Acid market are Cargill Incorporated, Corbion NV, BASF SE, Jungbunzlauer Suisse AG, Henan Jindan Lactic Acid Technology
The regions covered in the global Lactic Acid market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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A Few Points From The Table Of Content
1. Lactic Acid Market Executive Summary
2. Table of Contents
3. List of Figures
4. List of Tables
5. Report Structure
6. Introduction to the Lactic Acid market
……
20. Company Profiles
21. Key Mergers And Acquisitions
22. Lactic Acid Market Opportunities And Strategies
23. Lactic Acid Market, Conclusions And Recommendations
25. Appendix
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